Sprint Sells Its Cell Towers

posted Jul 24, 2008, 8:11 AM by Eric M. Zeman

Sprint announced the sale of nearly all its cellular towers to TowerCo for $670 million in cash. The deal includes approximately 3,300 CDMA and iDEN network towers. TowerCo will take over the running and maintenance of the towers, and Sprint will lease the use of the towers from TowerCo so it may continue to run its network. The sale frees up Sprint personnel from managing the towers, and gives Sprint a large amount of cash, both of which will help it focus on its core business of providing communications services.

more info at Sprint »

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